Seoul shares lifted by stronger-than-expected China data
* KEPCO up 3.2 pct after electricity price increase * Ssangyong Motor rises 15 pct after Mahindra investment By Joyce Lee SEOUL, Jan 10 (Reuters) - Seoul shares rose on Thursday to end a five-session losing streak, as stronger-than-expected trade data from China pointed to recovering demand in the world's second-largest economy. The Korea Composite Stock Price Index (KOSPI) closed up 0.75 percent at 2,006.8 points. Blue-chips were mixed, with Samsung Electronics closing up 2 percent after falling 4.8 percent in five sessions as of Wednesday. China's exports in December grew 14.1 percent from a year earlier to hit a seven-month peak, data showed on Thursday, rebounding from three-month lows and racing past market expectations for a 4 percent rise. "Strong economic data from China has served as a favorable factor, lifting a sideways session that had been weighed by net sales from system trading on this options expiry date," said Kim Soon-young, an analyst at IBK Securities. State-run utility Korea Electric Power Corp (KEPCO) rose 3.6 percent after South Korea announced on Wednesday it will raise electricity prices by an average 4 percent from next week to reduce power demand and help KEPCO cut losses. Shares in Ssangyong Motor Co Ltd rose by the daily trading limit of 15 percent after the automotive president of parent company Mahindra & Mahindra said Mahindra would invest $900 million over the next four years in products to be developed jointly with Ssangyong. Local retail investors bought a net 42.9 billion Korean won ($40.41 million) worth of KOSPI shares, buttressing the main board. Gainers outnumbered decliners 473 to 308. The KOSPI 200 benchmark of core stocks closed up 0.8 percent, while the junior KOSDAQ rose 0.5 percent. Move on day +0.75 percent 12-month high 2,057.28 14 March 2012 12-month low 1,769.31 25 July 2012 Change on yr -1.2 percent All-time high 2,231.47 27 April 2011 All-time low 93.10 6 January 1981 ($1 = 1061.6250 Korean won) (Additional reporting by Seongwon Chang; Editing by Simon Cameron-Moore)
- Putin dissolves state news agency, tightens grip on Russia media
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters want power now |
- Record cold, ice grip U.S.; more snow to blanket East
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'